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Seffner plaza with Publix and Walmart sells for $12.49 million

Mango Plaza’s new owners are based out of Baltimore.

SEFFNER — A Baltimore investment firm has purchased the Mango Plaza, anchored by a Publix and Walmart, for $12.49 million.

Continental Realty Corporation announced the purchase this week from previous owners Field Real Estate Holdings and Southern Management and Development.

Hillsborough County property records show the plaza, which was built in 1986, last sold for $8.35 million in 1998.

The shopping center is 166,465 square feet and located at 11724 E Dr. Martin Luther King Jr. Blvd. It is the 16th Florida property owned and managed by Continental Realty.

At the time of the sale, nearly the entire center was occupied by tenants.

Continental Realty leadership said they were attracted to the property because Walmart and Publix occupy more than 60 percent of the plaza. Both retailers are leading brands in Florida.

The Baltimore group used a $210.8 million private equity fund focused on retail and multi-family properties in the southeast for the purchase.